Savings account interest is paid quarterly in the account. Basic interest is calculated on the balance deposited in your bank account daily.
Many of us always pay close attention to how much interest is paid on the amount deposited in the bank. But we will not notice how much interest rate is given on the amount in bank savings account. Because we can withdraw money from savings account whenever we want. And the maximum savings accounts will be only 4 percent.
But currently six banks are charging up to 7% interest on savings account. Let’s see what kind of bank it is.
Savings account interest is paid quarterly in the account. Basic interest is calculated on the balance deposited in your bank account daily.
Smaller banks offer more interest on current savings accounts than larger banks. That means Small Bank, Payment Bank plays an important role in providing high interest. This bank provides more interest to the customers as it uses technology extensively in its operations.
Airtel Payments Bank
Airtel Payments Bank is a fully digital bank. 1 lakh to Rs. 7% interest for savings account holders up to 2 lakhs and Rs. It also offers 2% interest on balances up to Rs 1 lakh.
ESAF Small Finance Bank
ESAF Small Finance Bank Savings Account Rs. The bank said that 4% interest will be available for balance holders up to Rs 5 lakh. At the same time Rs. 6.5% interest is offered to customers with balances above 15 lakhs.
Equitas Small Finance Bank
Equitas Small Finance Bank has announced that customers with balances up to Rs 1 lakh will be offered 3.5% interest. At the same time Rs.1 to Rs. 5 lakh for balances up to 5.25% interest and Rs. Customers with balance above 5 lakhs will also get 7% interest.
Fincare Small Finance Bank
Fincare Small Finance Bank will offer an interest rate of 7.11% on savings account balances above Rs 5 lakh and 6.11% interest on balances between Rs 1 and Rs 5 lakh, the bank said.
Suryothai Small Finance Bank
Suryothai Small Finance Bank offers 7% interest to customers with savings account balance above Rs.5 lakh and Rs. 6.75% interest on balances above Rs 1 lakh.
AU Small Finance Bank
AU Small Finance Bank offers 7% interest on savings account balances between Rs 25 lakh and less than Rs 1 crore. There are no charges for online transactions.
